Lendio

Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Backbase, BancVue, Credit Sesame, DriveWealth, Feedzai, FIS, Geezeo, Insuritas, Kasasa, Lendio, PayPal, SeedInvest, Silanis Technology, Tradier, Yodlee

On Finovate.com

  • Yodlee Brings “Sense” to Forward-Looking Bank Balances
  • BancVue’s Kasasa Spreads to 1,800+ Client Branch Locations Across 46 U.S. States.

Around the web

  • NerdWallet lists Lendio as 1 of 7 great small-business loan options for women-owned businesses.
  • Credit Sesame wins Gold Stevie Award in 2015’s American Business Awards.
  • PayPal and Uber extend their partnership to additional 9 countries, now in 19 total.
  • Backbase adds Geezeo’s PFM to its Open Banking Marketplace.
  • Partnership between Feedzai and Azul Systems yields first deployment with “leading payment technology provider.”
  • Insuritas wins NAFCU 2015 Services Innovation Award.
  • DriveWealth helps trading software technology company, KnowVera, develop video course on pattern recognition.
  • e-SignLive by Silanis to develop joint, cloud-based solution for digital transactions in new partnership with Australia’s Nuvola.
  • Jim Cramer of CNBC’s Mad Money interviews SeedInvest CEO Ryan Feit.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate Alumni News

By David Penn Posted on
Categories: Bitbond, Coinbase, DarcMatter, EZBOB, Identity Theft 911, Jemstep, Kabbage, Lending Club, Lendio, Mitek, Oink, On Deck Capital, P2BInvestor, Prosper, Quisk, SayPay, Silanis Technology, SocietyOne, Toshl, TradeHero, TransferWise, TrueAccord, Wealthfront

On Finovate.com

  • Finovate Debuts: SayPay Combines Voice Recognition and Biometric Authentication

Around the web

  • ColoradoBiz talks with Entrepreneur of the Year finalist: Krista Morgan, CEO and co-founder of P2Binvestor.
  • TechCrunch column on bitcoin and the remittance market references Coinbase and TransferWise.
  • PYMNTS.com highlights OnDeck, Lending Club, and Prosper in its look at the changing relationship between banks and alternative lenders.
  • Business Insider: SocietyOne thinks Australia is big enough for a bunch of small players.
  • TradeHero parent partners with the Singapore Exchange (SGX) to launch the SGX StockWhiz 2015 contest.
  • Bitbond, Wealthfront, and TrueAccord listed among six rising fintech startups.
  • Lendio-powered Staples business loans surpasses $1 million in funding for 43 SMBs across the U.S.
  • Quisk short-listed for Red Herring’s Top 100 North America award.
  • Fox Financial Planning Network picks Jemstep’s Advisor Pro as automated investment service platform for its AdvisorTouch Symphony program.
  • The Hanover Insurance Group teams up with Identity Theft 911 to provide businesses with better defense against data breaches.
  • FearlessMen.com reviews small business lender, EZBOB.
  • etcAndroid spotlights Toshl Finance Budget and Expense app 1.7.21.
  • FundSERV to integrate e-SignLive from Silanis into its eDOCS solution.
  • Mitek to acquire IDchecker, a global identity verification solutions provider.
  • Oink featured in USA Today’s list of five financial musts for college grads.
  • Accredited Investor Markets interviews DarcMatter CEO Sang Lee.
  • Kabbage partners with Sage payment solutions to launch Sage small business loan powered by Kabbage.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Share this:

Send Post Twitter LinkedIn Facebook

$680 Million Raised by 29 Alums in Q1 2015

$680 Million Raised by 29 Alums in Q1 2015
By David Penn Posted on
Categories: Advanced Merchant Payments, AdviceGames, Aire, App Annie, Ayasdi, Betterment, Bill.com, BlueVine, Bolstr, Coinbase, CoverHound, Finsphere, Funding, Fundings, Global Debt Registry, Kofax, LendingRobot, Lendio, Linkable Networks, Micronotes, Motif Investing, peerTransfer, Pindrop Security, Q2, Ripple, SimplyTapp, Spreedly, Taulia, TransferWise, TrueLink Financial, Xero

cartoonmoneystackThe biggest surprise in our look at first-quarter funding is that the $677 million amassed by 29 Finovate alums was more than 20% of the $3.2 billion invested in the entire worldwide fintech sector.

The $677 million raised was $85 million (+14%) above the same quarter a year ago, and more than triple the first quarter of 2013.

Q1 2015 was also $133 million above the $544 million mark set in the fourth quarter of 2014.

It will be worth watching to see if this record-setting first quarter for Finovate alum fundraising will be a sign of more great things to come for capital-raising in 2015.

Top 10 Overall Investments

  1. Xero: $111 million in February
  2. Coinbase: $75 million in January
  3. Betterment: $60 million in February
  4. TransferWise: $58 million in January
  5. App Annie: $55 million in January
  6. Ayasdi: $55 million in March
  7. Motif Investing: $40 million in January
  8. Ripple Labs: $30 million in January
  9. Bill.com: $50 million in February
  10. Pindrop Security: $35 in February

Previous Quarterly Comparisons

  • Q1 2015: More than $676 million raised by 29 alums
  • Q4 2014: More than $544 million raised by 25 alums
  • Q1 2014: More than $600 million raised by 8 alums
  • Q1 2013: More than $155 million raised by 14 alums

January: More than $275 million raised by 14 alums

February: More than $264 million raised by 8 alums

March: More than $136 million raised by 7 alums

If you are an alum that raised money in the first quarter of 2015, and do not see your company listed, please drop us a note at research@finovate.com. We would love to share the good news! Funding received prior to becoming an alum not included.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Arxan Technologies, Azimo, Coinbase, Digital Insight, Fiserv, Intuit, Lendio, LifePay, Lighter Capital, Malauzai Software, Misys, PayNearMe, PayPal, Sekur.me, WePay

On Finovate.com

  • Bitcoin-based P2P Lending Platform Bitbond Raises $670,000
  • WePay Closes $40 Million Series D Round Led by FTV Capital
  • Misys Launches FusionBanking Essence Islamic

Around the web

  • SEKUR Me debuts Apple Pay for online purchases featuring universal buy-button and one-click mobile payments.
  • Intuit launches Sync with PayPal to help SMBs simplify tasks with QuickBooks online data-integrations.
  • LifePay announces plans to expand into Southeast Asia in wake of ipoxPro acquisition.
  • The Guardian highlights Azimo as a “well-established” alternative to banks regarding money-transfer overseas.
  • NYSE’s new Bitcoin Index is powered by Coinbase.
  • Anheuser-Busch Employees Credit Union to deploy online- and mobile-banking solutions from Digital Insight.
  • Merck Sharp & Dohme Federal Credit Union adds processing and additional solutions from Fiserv.
  • Community Banks and Credit Unions go live with Touch ID in mobile banking through Malauzai Software.
  • Arxan appoints Sam Rehman as chief technology officer.
  • Nerdwallet features Seattle-based Lighter Capital.
  • Bankless Times talks with Brock Blake, Lendio CEO, about the company’s success.
  • PayNearMe to offer its cash payment service to Telinta’s service-provider customers.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate Alumni News

By David Penn Posted on
Categories: BillGuard, CurrencyFair, Lending Club, Lendio, Malauzai Software, MasterCard, MoneyStream, Prosper, SocietyOne, Thomson Reuters

On Finovate.com

  • Meet the Presenters: Check out FinovateSpring 2015 Sneak Peek: Part 4
  • MoneyStream Launches to Public, Receives $3.2 Million in Funding
  • CurrencyFair Springs $10.7 Million More in Funding

Around the Web

  • Thomson Reuters unveils ASKTRPS to help fixed-income professionals meet reporting requirements.
  • MasterCard to sponsor Smart City App Hack.
  • Alabama Teachers Credit Union and Greater TEXAS Federal Credit Union to launch SmartwearApps for the Apple Watch courtesy of Malauzai Software. See Malauzai at FinovateSpring 2015 in San Jose next month.
  • Former Salesforce chief architect Scott Hansma joins Lending Club as senior vice president of technology.
  • MasterCard partners with Alliance for Financial Inclusion to support AFI’s Public-Private Dialogue Platform.
  • American Banker’s highlights from Prosper and Lending Club at this week’s LendIt conference.
  • News.com.au’s Investing highlights SocietyOne’s role in “dude-to-dude” lending.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate Alumni News

By David Penn Posted on
Categories: Acculynk, authenticID, BioCatch, Blackhawk Network, Kofax, Lending Club, Lendio, MiiCard, Motif Investing, On Deck Capital, PaySimple, Prosper, Q2, SecondMarket, Tradier, Uncategorized

On Finovate.com

  • AuthenticID Teams Up with MyECheck to Provide Document Authentication

Around the Web

  • OEM agreement between Kofax and BlackHawk Network enables mobile capture on GoWallet digital wallet.
  • Early Warning and BioCatch to collaborate in new data-sharing consortium.
  • Q2 teams up with Acculynk to provide real-time P2P payment service.
  • The Netbanker Blog is Moving to Finovate.com.
  • Lending Club and Citi partner with Varadero Capital to facilitate up to $150 million in loans to provide affordable credit to underserved borrowers and communities.
  • Options trading tool, Orca, partners with Tradier for its Brokerage API.
  • Prosper and OnDeck partner to offer customers more lending options.
  • GDS Link integrates MiiCard’s DirectID into its Credit Risk Management platform to reduce risk and increase conversion rates.
  • Lendio acquires Business Bounce to accelerate business lending on its marketplace platform.
  • PaySimple awarded Marketing Team of the Year by Marketo.
  • TechCrunch reports: SecondMarket launching product to put more control over secondary sales in the hands of startups.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate Alumni News

By David Penn Posted on
Categories: BancVue, Betterment, Billhighway, Equifax, Financial Guard, Fiserv, FutureAdvisor, Insuritas, Intuit, Kofax, Lending Club, Lendio, Monitise, Motif Investing, On Deck Capital, PayPal, Rippleshot, ShopKeep POS, SocietyOne, TD Ameritrade, TD Bank, Zumigo

On Finovate.com:

  • Lendio Raises $20 Million in New Funding to Help Finance Small Businesses
  • Motif Investing Partners with Pacific Life to Offer Cause-Based Investing.
  • Bank Innovation’s Coolest Brands of 2015 Features Finovate Alums.
  • Printer Giant Lexmark to Acquire Kofax for $1 Billion.

Around the Web:

  • ShopKeep POS acquires payment processing startup, Payment Revolution.
  • Financial Guard and FutureAdvisor are featured as alternatives in a Bloomberg column on “breaking up with your expensive adviser.”
  • Bank Innovation column on “InsuranceTech” and Fintech 1,000 lists Insuritas.
  • Opentabs integrates with PayPal to power its mobile app order-ahead services.
  • PYMNTS: Monitise takes itself off the market. CEO steps down.
  • Billhighway awarded Silver Stevie Award for Innovation in Customer Service in the Financial Services Industry category. It is the second win for Billhighway since 2013.
  • Dexterity Ventures (Place2Give) bolsters team with new CMO, Product Manager, Developer, and Office Assistant.
  • The FinTech Blog interviews Eli Broverman, Co-Founder and COO of Betterment.
  • Fiserv, TD Bank Group, Intuit, and PayPal rank among Forbes’ list of Americas’ Best employers.
  • SocietyOne appoints former Investec Group chief lending officer, Simon Schwarz, as new COO.
  • Ad Age highlights how BancVue seeks to level the playing field for community banks.
  • Rippleshot joined fellow winners of the Chicago Innovation Awards in ringing the closing bell at the Nasdaq on Monday.
  • BankNXT looks at the rise of marketplace lending platforms including Finovate alums Lending Club and OnDeck.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Share this:

Send Post Twitter LinkedIn Facebook

Lendio Raises $20 Million in New Funding to Help Finance Small Businesses

By David Penn Posted on
Categories: Lendio, Uncategorized

Small business lender Lendio announced today that it has raised $20.5 million in new funding. The round was led by Napier Park’s Financial Partners Group, and included participation by:

  • Blumberg Capital
  • Highway 12 Ventures
  • North Hill Ventures
  • Pivot Investment Partners
  • Runa Capital
  • Tribeca Venture Partners

The new investment takes Lendio’s total funding to more than $30 million. As part of the agreement, Dan Kittredge from Napier Park and Chris Gottschalk of Blumberg Capital will join Lendio’s board of directors. Lendio plans to use the capital to expand its partnership program, help grow its team of loan advisors, and fuel continued innovation of the platform.

Lendio_homepage_full

Kittredge praised Lendio’s recent growth and partnerships with companies like Staples in explaining his firm’s commitment to the company. “Lendio’s leadership team has proven its ability to drive innovation and deliver an incredible platform that helps both small business owners and small business lenders alike,” he said.

Lendio believes that a big reason why small businesses get turned down when applying for loans is a matter of proper matchmaking. Whether the small business is pursuing the wrong type of loan product, or has found the right loan but at the wrong bank or credit union, the result is the same. Lendio’s platform makes it easier for qualified borrowers to find the loan that best suits their needs from the financial institution best able (and willing) to service it. Businesses are able to make these loan inquiries without penalty to their credit rating due to Lendio’s “soft pull” of personal and business credit data.

“Our focus is to provide three essential benefits for the business owner – offer a wide variety of loan options, speed up the process, and reduce the time and effort it requires to get funded, and provide a white-glove, trusted experience, Lendio CEO Brock Blake said.

Lendio_FS2011_stage_full

 Above (Left to right): Trent Miskin (CTO) and Brock Blake (CEO) presenting at FinovateSpring 2011.

For banks and credit unions the reward is lower customer acquisition costs, more qualified leads, and a  significantly larger potential market for new customers.

Lendio demoed its technology at FinovateSpring 2011. The company was founded in 2005 and is headquartered in Salt Lake City, Utah.

Share this:

Send Post Twitter LinkedIn Facebook

Alumni News– February 27, 2015

By David Penn Posted on
Categories: Betterment, Fidor Bank, Fiserv, FutureAdvisor, LearnVest, Lendio, Loop, MaxMyInterest, Motif Investing, Novabase, Online Banking Report, Personal Capital, Prosper, SigFig, Silanis Technology, Top Image Systems, Wealthfront, Xignite, Yodlee
  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgWired column looks at LoopPay and the evolution of digital wallets.
  • Silanis Technology partners with Box to help the cloud storage and file sharing specialist provide financial services.
  • Bank of the West to offer photo billpay courtesy of technology from Fiserv and Top Image Systems.
  • Finovate Debuts: Novabase Puts Watson-Powered Wizzio to Work Boosting Sales and Productivity.
  • Mainstreet reviews top roboadvisors including Wealthfront, Betterment, Personal Capital, FutureAdvisor, SigFig, Motif Investing, and LearnVest.
  • Prosper partners with Western Independent Bankers to offer consumer loans to unattractive borrowers.
  • Tech City News features video highlights from FinovateEurope 2015.
  • That Was Easy: Staples to Use Lendio to Power Small Business Lending.
  • Daily Fintech looks at programmable bank trends via APIs from Fidor, Open Bank Project, Yodlee, and Xignite.
  • AlleyWatch interviews MaxMyInterest CEO and founder Gary Zimmerman.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Share this:

Send Post Twitter LinkedIn Facebook

That Was Easy: Staples to Use Lendio to Power Small Business Lending

By Julie Muhn (@julieschicktanz) Posted on
Categories: Lendio

lendio_logo.jpg

Small business owners searching for office supplies at Staples.com can now apply for a loan while filling their virtual shopping carts.

Yesterday Staples announced a partnership with Lendio, a startup that specializes in matching small business borrowers with lenders, to power the new loan offering.

Borrowers in search of funding will begin the process on Staples’ website:

StaplesLendio.jpg

Next, they are taken to a Staples-branded section of Lendio’s site to finish the application:

StaplesLendio2.jpg

From there, borrowers choose from:

  • Line of credit
  • Small Business Association loan
  • Term loan
  • Cash advance
  • Equipment loan
  • Commercial real estate loan

Lendio offers loans from $2,500 to $1 million and handles the entire transaction.

Lendio is based in Salt Lake City, UT. It debuted at FinovateSpring 2011 in San Francisco.

Share this:

Send Post Twitter LinkedIn Facebook

Alumni News—February 5, 2015

By Julie Muhn (@julieschicktanz) Posted on
Categories: Coinbase, CoinJar, Feedzai, Insuritas, Lendio, Quisk
  • Finovate-F-Logo.jpgQuisk electronic payment system to launch in Jamaica. Come see Quisk at FinovateEurope next week.
  • AM560 interviews Lendio CEO Brock Blake on alternative lending.
  • On Finovate.com: “Funding for E.U.-based Finovate Alums Totals $377 Million in 2014″
  • European Commission’s Promoting Enterprise blog spotlights Nuno Da Cruz Sebastiao of Feedzai.
  • Argent Credit Union hires Insuritas to open and manage turnkey insurance agency.
  • Coinbase to support Google Now notifications.
  • CoinJar launches iOS bitcoin payments app, CoinJar Touch, ahead of its FinovateEurope 2015 debut next week.
  • SixThirty Accelerator deadline extended to February 6.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Share this:

Send Post Twitter LinkedIn Facebook

Alumni News– December 11, 2014

By David Penn Posted on
Categories: Azimo, Bluefin Payment Systems, Cartera Commerce, CUneXus, Dynamics, Flint Mobile, Google, IDology, Intuit, Kabbage, Lending Club, Lendio, Malauzai Software, Mortgage Harmony, PayNearMe, PayPal, Pindrop Security, Prosper
  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMalauzai Software announces launch of its SmartMarketing program to promote mobile banking.
  • Azimo extends £1 money transfer service to India, Pakistan, Bangladesh, and Sri Lanka.
  • Information Week takes a look at mobile payment apps including Flint.
  • Mortgage Harmony rebrands as Rate Reset.
  • Contact Solutions, IDology, and Pindrop Security team up to Cut IVR Fraud.
  • Examiner.com: Dynamics‘ next-generation credit card features buttons to log-in PIN security code.
  • Lendio CEO explains how his company is fueling the American dream.
  • Prosper comments on Lending Club IPO, expects to top $9 billion in loans this year.
  • PayNearMe partners with Department of Health and Human Services to spread the word about healthcare.
  • Bluefin Payment Systems to provide its PCI-validated Point-to-Point Encryption (P2PE) Solution to Priority Payment clients.
  • Career Bliss lists PayPal, Intuit, and Google in the top 50 happiest companies in the U.S.
  • Lending Club launches IPO, shares rally 70% in early trading.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Share this:

Send Post Twitter LinkedIn Facebook